My biggest action item is finding a way to manage this park from a distance.

My biggest advice is “do not quit your day job until you have the new cash flow”.Only way to make enough will be multiple units (apartments).

They are your biggest buyers and you will not find them in bad markets and they do not like super distressed homes.

Joe the Plumber comes out to fix the toilet, and the PM marks it up 50% as an added profit center and withholds it from your monthly proceeds.So "what percentage of rents the PM is taking" is really only a part of the picture, and might only be a small part of the revenue pie that they are eating.  

My plan is to acquire more properties but I want to add an experienced accountant to my team to make sure I am getting the biggest bang for my bucks. 

Just had an inspection done yesterday and nothing major came out of it that would need immediate action other than closing some loose hanging wires and other minor things.So this is the biggest research and work we've done.

My biggest bottleneck was getting over the fear of purchasing a property and not having all the information and answers to be a landlord.

Beckie - You can ask your CPA for his/her suggestion, but I think the biggest item is to track your payments (from LLC to personal) on an excel file and make note at the end of the year of the interest versus principle paid on the HELOC (which the bank should give you during year end statements) - in that way, you may be able to write off some of the interest.

For example, if you ignore appreciation but find a 2% deal in a rural area, you will win that metric, but if the house costs $60k, then you are only generating $1200 gross revenue and after all expenses, the amount left over is not great, and your appreciation potential is next to nothing. 

What improvements/amenities are the biggest bang for your buck an owner can add/do prior to rental?